The global PMMA (polymethyl methacrylate) market is expected to
Newark, NJ, May 25, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global polymethyl methacrylate market is expected to increase from 4.9 billion USD in 2020 and reach 6.4 billion USD by 2028, with a CAGR of 3.5% during the forecast period 2021-2028.
The polymethyl methacrylate (PMMA) market has experienced significant growth in recent years. This growth is attributed to the growing demand for LED flat screens, optoelectronics, investments in bio-based polymethyl methacrylate, growing demand from the industries involved and the awareness of the advantages and capabilities of PMMA in as a substitute for glass and heavy materials. In addition, the rise of innovative applications, modernization and technological advancements in production techniques will create growth and new opportunities for the PMMA market. Government regulations to use durable polymers further increase the growth of polymethyl methacrylate.
PMMA (polymethyl methacrylate) is a synthetic resin and thermoplastic polymer of methyl methacrylate, also known as acrylic glass. It is produced from the polymerization process. PMMA is a transparent thermoplastic that comes in the form of beads, sheets, pallets, and blocks. It is used as a substitute for heavy materials and glass. It is used in skylights, neon signs, airplane awnings, and shatterproof windows due to its rigid, clear, and lightweight nature. Due to its light weight and transparency, it is used in signs and displays, electrical and electronics, automotive and transportation, building and construction, and applied for LCD panels.
The global polymethyl methacrylate market is expected to experience significant growth, owing to the increasing demand from government regulations to use sustainable polymers, an alternative for glass and polycarbonate, the increasing demand for the automotive and automotive industry. transport, awareness of the advantages and capabilities of PMMA, and increasing demand from applied industries. The factors limiting the market are high production costs, lack of raw materials and falling demand in the automotive industry.
DOWNLOAD A FREE SAMPLE REPORT AT https://www.fiormarkets.com/report-detail/419443/request-sample
Major players operating in the global polymethyl methacrylate market include Asahi Kasei Corporation, Arkema Group, Evonik Industries AG, Chi Mei Corporation, Kolon Industries, Inc., GEHR Plastics, Inc., Mitsubishi Rayon Co., Ltd., Sumitomo Chemical Co., Ltd., Polycasa NV, Saudi Arabia Basic Industries Corporation, Quinn Plastic and LG MMA Corporation. To gain significant market share in the global polymethyl methacrylate market, major players are now focusing on adopting strategies such as joint ventures, product innovations, mergers and acquisitions, recent developments, collaborations and partnerships.
- In March 2019, Evonik’s methacrylate business was acquired by Advent International for € 3 billion to strengthen its portfolio of polymethyl methacrylate products in electronics, automotive and construction.
The extruded sheet segment dominated the market and held the largest market share of 51% in 2020.
On the basis of type, the global polymethyl methacrylate market is segmented into granules, beads and extruded sheets. The extruded sheet segment dominated the market and held the largest market share of 51% in 2020. This growth is attributed to increased demand for high performance sheet metal, cost efficiency and excellent thickness tolerances.
The automotive segment dominated the market and held the largest 40% market share in 2020.
On the basis of application, the global polymethyl methacrylate market is segmented into signs and displays, lighting, automotive, construction, sanitary, electronics, and others. The automotive segment dominated the market and held the largest market share of 40% in 2020. Global automotive production increased to 77.62 million units in 2020.
The optics segment dominated the market and held the largest market share of 1.3 billion in 2020.
On the basis of quality, the global polymethyl methacrylate market is segmented into multipurpose and optical. The optics segment dominated the market and held the largest market size of 1.3 billion in 2020. The growth is attributed to the growing demand for optoelectronics in emerging countries.
Browse the full report with TOC at https://www.fiormarkets.com/report/polymethyl-methacrylate-pmma-market-by-type-pellets-beads-419443.html
Regional segment of polymethyl methacrylate market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global polymethyl methacrylate market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In North America, the United States held the largest market size with $ 1.3 billion in 2020. Asia-Pacific is the fastest growing region. China holds the world’s second largest economy and is expected to reach a market size of USD 1.2 billion by 2028.
Customization request: https://www.fiormarkets.com/enquiry/request-customization/419443
About the report:
Global Polymethyl Methacrylate (PMMA) Market is analyzed on the basis of value (USD Million & Billion). All segments were analyzed globally, regionally and nationally. The study includes analysis of over 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges to get the key insights of the market. The study includes the carrier’s five force model, attractiveness analysis, commodity analysis and competitor position grid analysis.
For instant purchase: https://www.fiormarkets.com/checkout.html?reportid=419443&type=single
Customization of the report:
The report can be customized according to customer’s requirements. For more information, you can contact us on [email protected] or + 1-201-465-4211. Our managers will be happy to understand your needs and provide you with the most suitable reports.
About Fior Markets
Fior Markets is a futuristic business intelligence company, which helps clients develop their business strategies and make better decisions using actionable insights. With a transparent information pool, we meet client goals, high level engagements and targeting potential prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global business intelligence research reports, including sectors such as technology, pharmaceuticals, consumer goods, food and beverage, chemicals, media, materials and many others. Our strategic intelligence capabilities are purposefully planned to drive the expansion of your business and elucidate the strength of a diverse industry. We hold eminent units of highly expert analysts and consultants according to their respective fields. The global market research reports provided by us involve qualitative and quantitative analysis of the current market scenario according to the separate geographic regions and complete performance in different regions with a holistic approach. Plus, our subscribed research reports offer a comprehensive guide to keeping businesses up to date with the major changes coming in their fields. Fior Markets offers its clients personalized research analyzes based on their exact requirements, specifications and challenges, whether it is full documentary research, investigative work, composition of multiple methods, a detailed interview or a competitive watch. Our research experts have the experience of matching the exact people and methodology to your business needs.
Head of Business Development
Call: + 1-201-465-4211
E-mail: [email protected]
The Web: www.fiormarkets.com
To read reports on major industries, visit our affiliate website: https://www.marketquest.biz
Lysine Market – https://www.fiormarkets.com/report/lysine-market-by-livestock-poultry-swine-others-application-419215.html
Aerospace Composites Market – https://www.fiormarkets.com/report/aerospace-composites-market-by-fiber-carbon-graphite-aramid-glass-419192.html
Synthetic Thermoplastic Elastomers (TPE) Market – https://www.fiormarkets.com/report/synthetic-thermoplastic-elastomers-tpe-market-by-product-cope-419173.html
Metal Cleaning Chemicals Market – https://www.fiormarkets.com/report/metal-cleaning-chemicals-market-by-cleaner-type-solvent-419164.html